New High Yield CDs From Penfed? 6.00%?
I can't officially confirm these yet, but I've been told that Pentagon Federal Credit Union (Penfed) will be coming out tomorrow with some high yield certificates for terms of 3 to 7 years. I've read rumors that the yield may be 6.00% APY. According to my contact, these rates will likely not last the usual month. Perhaps they're anticipating the strong demand that will likley exist now that interest rates are falling.
Earlier this year Penfed offered 6.25% APY on its long term CDs. I was able to take advantage of those CDs along with 6% CDs that they offered about a year ago. You can read about my experiences with Penfed along with all the details about these CDs and membership in my January Penfed post. You can become eligible for membership by joining an association for $20. Penfed use to have a really nice feature on its IRA CDs for those over 59.5 years of age, but this has now ended. Please refer to this post for more details.
Penfed is federally insured by the NCUA (Charter # 227). It's one of the nations largest credit unions with assets of $10.4 billion and 757,956 members.
Banks Mentioned in this Post:
|Pentagon Federal Credit Union|
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